OFI Invest Asset Management Sells 2,134 Shares of Alphabet Inc. $GOOG

OFI Invest Asset Management lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,743 shares of the information services provider's stock after selling 2,134 shares during the period. OFI Invest Asset Management's holdings in Alphabet were worth $16,629,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GOOG. Kingstone Capital Partners Texas LLC raised its holdings in Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock worth $23,963,208,000 after buying an additional 135,064,454 shares during the last quarter. Nuveen LLC purchased a new position in Alphabet in the first quarter worth about $2,622,943,000. Vanguard Group Inc. raised its holdings in Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after buying an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio purchased a new position in Alphabet in the first quarter worth about $369,713,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 2.2%

GOOG opened at $251.71 on Thursday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average price of $230.06 and a 200-day moving average price of $191.42. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. The stock has a market capitalization of $3.04 trillion, a price-to-earnings ratio of 26.81, a PEG ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is 8.95%.

Analysts Set New Price Targets

GOOG has been the subject of several recent analyst reports. Mizuho raised shares of Alphabet to a "strong-buy" rating in a report on Monday, September 29th. Cowen reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, October 8th. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 target price (up from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Jefferies Financial Group boosted their price objective on shares of Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Finally, Piper Sandler reissued a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $241.00.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the business's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the sale, the chief executive officer owned 2,402,119 shares of the company's stock, valued at $584,699,785.79. This trade represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 244,438 shares of company stock valued at $53,216,085 in the last three months. Corporate insiders own 12.99% of the company's stock.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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